Filing personal bankruptcy can be scary, especially when it comes to understanding all of steps and details involved.
Faber’s Licensed Insolvency Trustees have helped thousands of Albertans resolve their financial difficulties through a personal bankruptcy. Our experts will meet with you to explain the personal bankruptcy process, including your rights and the protection you’ll receive from creditors. We’ll gather your financial information and prepare all of the necessary forms and reports you need to sign. Faber Inc. will file your personal bankruptcy and send notice to all of your creditors.
To file for personal bankruptcy, simply follow these easy steps:
- Call Faber to schedule your free initial consultation with a Faber Trustee.
- Meet with a Faber Trustee for the initial consultation to complete the application form, review all of your options and assess whether a personal bankruptcy is the right option for you.
- Attend a second meeting with your Faber Trustee to complete a thorough review of your personal bankruptcy documents as well as the personal bankruptcy process and then sign your personal bankruptcy documents.
- Faber will electronically file your personal bankruptcy with the Office of the Superintendent of Bankruptcy and send notification to your creditors.
- Perform the following duties required during the length of the bankruptcy:
- Complete monthly income and expense statements for submission to your Trustee on a monthly basis for the length of your bankruptcy;
- Make monthly payments to your Trustee as described under the Bankruptcy and Insolvency Act;
- Attend two mandatory financial counselling sessions to assist you in developing proper money management techniques and gain a further understanding of the circumstances that contributed to your financial difficulties and your bankruptcy;
- Provide your Trustee with income tax information; and
- Assist your Trustee in the administration of your bankruptcy, only if required.
- Upon completing your duties during the length of your bankruptcy, you’ll receive your discharge from bankruptcy, which legally releases you from bankruptcy, your unsecured debt and officially gives you a fresh financial start.
Thank you all for making a not so happy time a positive learning experience.Kelvin & Deb J.